Segall Bryant & Hamill LLC Has $2.28 Million Position in Financial Institutions, Inc. (NASDAQ:FISI)

Segall Bryant & Hamill LLC lifted its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 56.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,686 shares of the bank's stock after acquiring an additional 30,130 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.54% of Financial Institutions worth $2,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PL Capital Advisors LLC increased its holdings in Financial Institutions by 666.8% during the 4th quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank's stock worth $370,697,000 after purchasing an additional 11,812,109 shares in the last quarter. Stieven Capital Advisors L.P. acquired a new position in shares of Financial Institutions during the fourth quarter worth about $6,140,000. Zacks Investment Management bought a new position in shares of Financial Institutions during the third quarter worth about $4,706,000. American Century Companies Inc. raised its position in Financial Institutions by 38.1% in the 4th quarter. American Century Companies Inc. now owns 424,825 shares of the bank's stock valued at $11,593,000 after buying an additional 117,142 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Financial Institutions by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 925,285 shares of the bank's stock valued at $25,251,000 after acquiring an additional 106,612 shares in the last quarter. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Stock Performance

NASDAQ FISI traded down $0.12 on Tuesday, hitting $24.84. 104,388 shares of the stock were exchanged, compared to its average volume of 88,630. The company has a market capitalization of $498.74 million, a PE ratio of -17.13 and a beta of 0.86. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The business's fifty day moving average is $27.09 and its 200 day moving average is $26.59. Financial Institutions, Inc. has a 52 week low of $16.29 and a 52 week high of $29.79.

Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. Research analysts anticipate that Financial Institutions, Inc. will post 3.3 EPS for the current fiscal year.

Financial Institutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th will be paid a $0.31 dividend. This is a positive change from Financial Institutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 4.99%. Financial Institutions's dividend payout ratio is currently -85.52%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FISI shares. Piper Sandler began coverage on shares of Financial Institutions in a research note on Friday, December 20th. They set an "overweight" rating and a $33.00 price target for the company. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $29.00 to $34.00 in a research note on Monday, February 3rd. Stephens restated an "equal weight" rating and set a $32.00 price objective on shares of Financial Institutions in a research note on Tuesday, March 11th. Finally, StockNews.com raised Financial Institutions from a "sell" rating to a "hold" rating in a research report on Tuesday, February 11th.

About Financial Institutions

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.